I've seen alot of anxiety here recently, and over many years...

I've seen alot of anxiety here recently, and over many years really.
All people are different but there are some generalisations which are fair.
When going into a purchase of a share we are generally going in as an investor or as a trader.
If we decide to buy into a company that has no product and no income, clearly we should know the risks prior to entering.
If we are a trader we know there is no return on investment unless the shareprice goes up (or if held long enough then dividends are not out of the question), and we also know that the shareprice may or may not immediately or ever go up, or that if it does go up we must decide on the fly or via a pre made plan to sell at a percentage gain, etc.
If the share price doesnt go up, or we dont sell when it is above purchase price because our expectations guide us to hold, then as a trader that is 100% on us.
Traders have losses, in most cases all traders know and expect losses, its part of the game, the same way a martial artist or boxer knows that in their fights they will get knocked down, but overall they want to win the fight, we are the same, some losses will occur with some trades, but overall the goal is to profit after subtracting any losses. Capital gains and capital losses, they happen, reality.
And, about 90% of day traders/traders fail, so expect to see people losing and unhappy.
So making the right trades is on us, our research, our expectations, our skill our ability to make tough calls.
A trader can blame no one but themselves.
Then there are investors. Investors when buying into a company have done their research and determined they see potential and want to hang on for a return, and generally speaking that return will come after a product or service is commercailised.
Investors also have to know what they are getting into, you invest in BHP and you know you will receive stable dividends and depending on world markets etc you hope or expect capital gains.
And in the case of bluechips, yes you can expect some fudiciary responsibility in the area of maximising returns to investors.
With investments in companies with no products or services commercialised, like it or not and contrary to what some might like to think, the CEO and Boards greatest responsibility is not return to investors, its to keep the company functional and existent and at the same time creating a product or service to commercialise.
To clarify, the shareprice or dividends are not the highest priority, as some may think.
I have seen some here asking why we dont have dividends and wonder how someone in the market as an investor or a trader in a company with no income can even think this question, but they do.

So we enter stocks as traders or investors, and as investors of a company with no product and no service we should know it may go well, or it may not, or it may happen quickly or slowly and in the case of R&D of biotech from scratch to commercialisation 5 years would be quick, 10 years would be ok, and 15 years and many capital raisings is still likely.

And if people dont take into account reality and also have realistic expections then it will be a tough time for those people.
That is on those people though.
Some companies will have luck and good planning will come to fruition, and some may not travel that pathway, that is reality.
A company may get the US defence force as a major lobbysist and sponsor, some will not, some will serendipituosly discover a product that is quickly proven safe and effective, some may not.

This is all trading and investing.

ANP has had a long journey with a couple of products that have had potential, but anyone that follows R&Dcompanies and particularly biotech will know and expect that many attempts or pathways dont meet saftey or efficacy or commercialstion requirements. This happens every day around the world.
And companies in this position have a priority to stay financially afloat and maintain ongoing pathways of discovery, to hopefully commercialisation.

To the pointy end of the stick (hopefully) for ANP we have travelled a long path with discoveries and disappointments but it appears we are in the best situation right now that we have ever been in in the last nearly 25 years.
Thats something to be happy and enthused about i imagine, being in the best place we have ever been in.

For me commercialisation is the true end game.
But on the journey to that for things to trigger share price movment in concrete ways we need ph2b/3 successful trial, and of signifigance is the tox study, which i think is probably in great part responsible for a lack of enthusiasm from investment from the big end of town. Safety is the number requirement for and pharmaceutical or therapeutic, and then very closely tied to efficacy.
Take away either aspect and the big boys wont commit as much as some would like, risk analysis will prevent them.
So the Tox study is big and although the concerns of the FDA are valid, our 200ml dosing s with zero outcomes related to the specific consequence/illness the FDA is concerned about, and the fact our DMD dosing is much lower can be seen as quite frustrating to us and also management.
It has apparently been difficult to gain primates for tox studies and couple that with finance requirements for us to pay for difficult to access primate studies while still funding R&D and regulatory pathways elsewhere, there have been time delays.

We now have primate studies that will provide a conclusion in the not too distant future, and we still have to hope that they are positive, and for me my tempered expectations are that they will easily pass the tests, but only an outcome will confirm that.
I think the tox studies will remove all concerns about ATL1102 to the investment market and also collaboraters or partners or acquirers etc.
For me the tox study will open up ATL1102 as the platform drug many talk off.
Efficacy in many areas of inflammation seems existent and provable, with safety issues removed and inflammation efficacy substantiated, commercialisation and investors seem highly likely.
And apart from anything else i think MS could very easily be a much more interesting target for ATL1102 commercially and from lobby groups and other pharma.
Who doesnt want 50% less lesions in their brain.

So DMD trial is obviously super important, but hand in hand important is the tox study too, the floodgates of opportunities open with safety issues gone and higher dosing levels allowed, leaving much greater opportunity, especially for others to also explore.

Things are good, What did we invest in and what type of investor are we, that is on us.
The company is alive, has commercialisation pathways existing and expanding, has regulatory approvals approved waiting on efficacy results and seperately safety results., and things are looking positive.
This is a time for hope and happiness, not really a time of despair.
The shareprice helps capital raisings, and those that sell out. Thats about it.
In general, a trader might want to sell at this point, the point before our greatest chance yet for success, but that is up to the trader, and no management is not there to make traders happy, or effect the share price for them, at this point they are there to keep the company viable and progress the company to and income producing entity to hopefully one day provide dividends or provide a fruitful return on (long term) investment.

These are just my thoughts and how i see it, its not an argument and is only to try and show positivity about our company and the potential for our company.
I know management could have been different decisions at times, but lets look forward and hope for a future where we all benefit, including, most importantly, those with illnesses.